Global Consumer Confidence Report: September 2023

Report summary

On a GDP-weighted basis, global consumer confidence continued to trend higher in August, supported by a strong upswing in China. Other large economies played a part, with sentiment in Australia, the United Kingdom and Canada also averaging much higher in August than in July. However, the increase was far from broad-based, with many smaller economies and much of Europe showing declines — overall, sentiment fell in 24 of the 43 countries tracked.

Key Takeaways

  • Consumer confidence decreased in August in 24 of the 43 countries tracked by Morning Consult.
  • Switzerland experienced the greatest improvement in sentiment in August, with the monthly average of the Morning Consult Switzerland Index of Consumer Sentiment jumping 12.4% from July.
  • Consumer confidence in Nigeria dropped 7.6% in August, the largest decline among the countries tracked by Morning Consult.

About the authors

A headshot photograph of John Leer
John Leer
Chief Economist

John Leer leads Morning Consult’s global economic research, overseeing the company’s economic data collection, validation and analysis. He is an authority on the effects of consumer preferences, expectations and experiences on purchasing patterns, prices and employment.

John continues to advance scholarship in the field of economics, recently partnering with researchers at the Federal Reserve Bank of Cleveland to design a new approach to measuring consumers’ inflation expectations.

This novel approach, now known as the Indirect Consumer Inflation Expectations measure, leverages Morning Consult’s high-frequency survey data to capture unique insights into consumers’ expectations for future inflation.

Prior to Morning Consult, John worked for Promontory Financial Group, offering strategic solutions to financial services firms on matters including credit risk modeling and management, corporate governance, and compliance risk management.

He earned a bachelor’s degree in economics and philosophy with honors from Georgetown University and a master’s degree in economics and management studies (MEMS) from Humboldt University in Berlin. 

His analysis has been cited in The New York Times, The Wall Street Journal, Reuters, The Washington Post, The Economist and more.

Follow him on Twitter @JohnCLeer. For speaking opportunities and booking requests, please email [email protected]

A headshot photograph of Jesse Wheeler
Jesse Wheeler
Senior Economist

Jesse Wheeler previously worked at Morning Consult as a senior economist.